bullish
A powder keg
SUMMARY
- While much focus has been on EURO/USD cross, Asian currencies haven’t seen that much focus due to range-bound markets.
- That is until two weeks ago when the USD/YEN breakout caught the imagination and became the centre of all things foreign exchange. Bonds & short-term interest rates have been the macro focus of 2022.
- The extent to which US bond yields have risen signals that the bond sell-off is not about to end despite the inverted yield curve. It is likely to cause more pain for EM countries.
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